Deposit Secured Loans
An incredibly low rate loan is available to members with savings or CD balances at Zia Credit Union. Your deposit is used as collateral, providing you funds you need without depleting your savings.
The interest will be just 2.50% above the dividend rate you are receiving on your balance. Since your deposit will still be accruing interest, the 2.50% is essentially the only interest out of pocket.
- Summary
- Our lowest loan rate
- Use your savings account balances or CD balances as collateral
- Interest only 2.50% above dividend rate earned on balances
- Keep earning dividends on your savings
- Easy access to needed funds without depleting savings
- Terms up to 10 years
- Local decision-making
- Personalized attention
- Easy application process
- More Info
Share Secured Loan
When a member pledges their share balance against a loan it is called a share secured loan. Share secured loans will be granted up to 95% of the share balance. Interest charged is 2.50% above the share dividend rate that the member is receiving. The maximum term will be 120 months (10 years). Single payment share secured loans may not exceed 12 months maturity. The pledged amount will include the principle plus interest up to 95% of the share balance.
Certificate of Deposit Secured Loan
When a member pledges their CD balance against a loan it is called a CD secured loan. CD secured loans will be granted up to 95% of the certificate balance. Interest charged is 2.50% above the certificate of deposit dividend rate that the member is receiving. The loan matures when the CD matures. Single payment loans may not exceed 12 months maturity. The pledged amount will include the principle plus interest up to 95% of the balance of the certificate of deposit.
